Beer School: Bottling Success at the Brooklyn Brewery by Steve Hindy, Tom Potter, Michael R. Bloomberg

By Steve Hindy, Tom Potter, Michael R. Bloomberg

What do you get for those who move a journalist and a banker? A brewery, of course.

"A nice urban must have nice beer. manhattan ultimately has, due to Brooklyn. Steve Hindy and Tom Potter supplied it. Beer college explains how they did it: their error in addition to their triumphs. Steve writes with a journalist's skepticism-as although he has forgotten that he's reporting on himself. Tom is even much less forgiving-he's a banker, in the end. the interior tale reads every now and then like a cautionary story, however it is an account of a superb and welcome achievement."

--Michael Jackson, The Beer Hunter(r)

"An available and insightful case research with magnificent perception for aspiring marketers. And if that's no longer sufficient, it's all approximately beer!"

--Professor Murray Low, government Director, Lang heart for Entrepreneurship, Columbia enterprise School

"Great classes on what each first-time entrepreneur will event. Being down the block from the Brooklyn Brewery, I had firsthand witness to their optimistic impression on our neighborhood. I provide Steve and Tom's e-book an A++!"

--Norm Brodsky, Senior Contributing Editor, Inc. magazine

"Beer institution is an invaluable and pleasing publication. In essence, this is often the tale of beginning a beer enterprise from scratch in ny urban. The product is one readers can relate to, and the marketplace is as tricky as they get. What a enjoyable problem! The e-book can assist not just these marketers who're beginning a company but in addition these attempting to develop one as soon as it's confirmed. Steve and Tom write with enthusiasm and perception approximately construction their enterprise. it really is transparent that they discovered much alongside the best way. Readers can research from those classes too."

--Michael Preston, Adjunct Professor, Lang heart for Entrepreneurship, Columbia enterprise tuition, and coauthor, the line to good fortune: the right way to deal with Growth

"Although we (thankfully!) by no means needed to care for the Mob, being held up at gunpoint, or having our beer and kit ripped off, we certainly pointed out with the demanding situations confronted in these early days of cobbling a brewery jointly. the unveiling tale Steve and Tom inform approximately companions coming into a enterprise out of ardour, in an they knew little approximately, being heavily undercapitalized, with an excessively naive marketing strategy, and their final luck, is an inspiring tale."

--Ken Grossman, founder, Sierra Nevada Brewing Co.

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They hold managers to a high performance standard, but if something comes up that puts their profit plan in jeopardy, they can protect their profit targets without forcing managers into actions that put the firm at risk. Of course, operating managers have always built slack into their budgets, and they always will. But the problems with this kind of secret padding are widely documented and indeed are part of the reason that many people favor high debt levels; it leaves less room for such padding. These problems largely disappear, though, if you make the slack explicit and transparent.

In the 1800s many cultures in Arizona and New Mexico vanished because they depended on a few crops that couldn’t survive changes in the environment. ••• One of the myths about capitalism is that it is about incentives. It is also about disincentives. No one should have a piece of the upside without a share of the downside. However, the very nature of compensation adds to risk. If you give someone a bonus without clawback provisions, he or she will have an incentive to hide risk by engaging in transactions that have a high probability of generating small profits and a small probability of blowups.

Only 70% of the sample said they would take the flight. In both cases, the chance of a crash is 1 in 1,000; the latter formulation simply sounds more risky. Providing a best-case scenario usually increases the appetite for risk. Always look for the different ways in which risk can be presented to ensure that you aren’t being taken in by the framing or the math. 6 We are taught that efficiency and maximizing shareholder value don’t tolerate redundancy. Most executives don’t realize that optimization makes companies vulnerable to changes in the environment.

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